Drilling Tools International (NASDAQ:DTI) Issues Earnings Results, Misses Estimates By $0.05 EPS

Drilling Tools International (NASDAQ:DTI) posted its quarterly earnings results on Thursday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05), FiscalAI reports. Drilling Tools International had a negative return on equity of 0.40% and a negative net margin of 3.06%. The business had revenue of $40.65 million during the quarter, compared to analysts’ expectations of $40.87 million.

Drilling Tools International Price Performance

NASDAQ DTI traded up $0.02 during trading on Friday, hitting $1.43. 315,605 shares of the stock traded hands, compared to its average volume of 253,819. The company has a market capitalization of $50.45 million, a P/E ratio of -11.00, a price-to-earnings-growth ratio of 3.97 and a beta of -0.56. The firm has a 50-day simple moving average of $2.15 and a 200-day simple moving average of $2.82. The company has a quick ratio of 1.58, a current ratio of 2.18 and a debt-to-equity ratio of 0.40. Drilling Tools International has a 12-month low of $1.35 and a 12-month high of $4.69.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Drilling Tools International in a research report on Monday, October 26th. Jefferies Financial Group restated a “hold” rating and set a $2.80 target price on shares of Drilling Tools International in a research report on Sunday, August 9th. Finally, Zacks Research cut shares of Drilling Tools International from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $2.80.

About Drilling Tools International

Drilling Tools International Corporation (NASDAQ: DTI) provides rental tools and related services to the oil and gas drilling industry. The company supplies downhole equipment used in drilling, completion and production operations, serving exploration and production companies, drilling contractors and oilfield service providers.

Its product offering includes drill pipe, drill collars, heavy-weight drill pipe, stabilizers, subs, mud motors, drilling jars and other specialized downhole tools.